Three tire manufacturers have publicly announced price increases. Will more follow?
Sumitomo Rubber North America Inc. (SRNA) was the first tiremaker to announce a post-tariff announcement price hike.
On April 11, the company said it would increase passenger and light truck tire prices by up to 25% and raise commercial truck tire prices by up to 10%, effective May 1, “in response to the Section 232 and reciprocal tariffs.
“The price changes will take effect May 1, 2025, pending further U.S. government announcements. SRNA will update the minimum advertised pricing program to reflect the changes and (SRNA) sales teams will provide details of the increase to our valued partners.”
On April 22, Goodyear Tire & Rubber Co. Announced that it would increase prices on select consumer tires in the United States and Canada on May 1.
The increases "will vary by product and are in response to rising costs," according to a statement from Goodyear at the time.
Specifically, the Akron, Ohio-based tiremaker planned to adjust "U.S. base prices for select consumer products. The price percentage changes, driven by rising costs, will vary by product and be up to 4%" and will go into effect on May 1."
Also on that date, Goodyear planned to “adjust Canadian base prices for select consumer products. The price percentage changes, driven by rising costs, will vary by product and be up to 6%.
On April 24, Yokohama Tire Corp. (YTC) announced that it would increase prices on its consumer and commercial truck tires sold in the United States by up to 10% on May 1.
According to YTC Chief Operating Officer Stan Chandgie, the increase was in response to the “unparalleled rise in costs associated with materials and finished goods.”
